110 HR 6734 IH: E85 and Biodiesel Access Act of U.S. House of Representatives 2008-07-31 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 2d Session H. R. 6734 IN THE HOUSE OF REPRESENTATIVES July 31, 2008 Ms. Herseth Sandlin (for herself and Mr. Shimkus) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to encourage increased access to alternative fuels.

1.

Short title

This Act may be cited as the E85 and Biodiesel Access Act of 2008.

2.

Increased alternative fuel vehicle refueling property credit in qualified States

(a)

In general

Section 30C of the Internal Revenue Code of 1986 (relating to alternative fuel vehicle refueling property credit) is amended by redesignating subsection (g) as subsection (h) and inserting after subsection (f) the following new subsection: (g)

Special rule

(1)

In general

In the case of property placed in service by the taxpayer during the taxable year within a qualified State— (A)subsection (a) shall be applied by substituting 50 percent for 30 percent, and (B)subsection (b)(1) shall be applied by substituting $100,000 for $30,000. (2)

Qualified State

For purposes of this subsection— (A)

In general

The term qualified State means, with respect to any taxable year, any State with respect to which a determination described in subparagraph (B) has not been made for any calendar year ending before such taxable year begins. (B)

Determination of threshold market penetration

The Secretary of Energy, in consultation with the Secretary of Transportation, shall issue a determination not later than April 30 of the calendar year following the first calendar year during which 15 percent of the retail fuel facilities within such State store and dispense clean-burning fuel described in subsection (c)(2). . (b)

Effective date

The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.

3.

Clarification with respect to dual-use qualified alternative fuel vehicle refueling property

(a)

In general

For purposes of section 30C of the Internal Revenue Code of 1986, in the case of qualified alternative fuel vehicle refueling property (as defined in such section) which is used for the storage or dispensing of any clean-burning fuel described in subsection (c)(2) of such section and fuel other than such a clean-burning fuel, the credit under subsection (a) of such section shall be determined without reference to the cost of property for the storage and dispensing of fuel other than clean-burning fuel. (b)

Effective date

This section shall apply to property placed in service after the date of the enactment of this Act.